Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow
Scotiabank strategist Hugo Ste-Marie attempted to assess the some market winners and losers from the election result,
“US equities rallying, small caps surging. While US equity futures were up over 1% very early in the morning, when Trump was declared President elect, gains accelerated even more, with S&P 500 futures now pointing towards a 2%+ open this morning.
“We raise our 2024 SPX target to 5830 from 5535, assuming 21.6x 2025E EPS of $270 . The multiple expansion assumes our Econ Team’s year-end 10yr UST forecast of 3.8% and the current investment-grade credit spread of 83bps … This year many outperforming portfolios have been aligned with Growth and Price Momentum factors. A broadening out of the market and a move down cap will be a challenge to many active managers — as it was back in July . Buy the Election.
“The House is still up in the air—we expect a red sweep, but we may not know for a while. We’ve always argued that conditional on a Trump win, Republicans would likely win the House and thus secure a GOP trifecta … We would guess Rs narrowly win given the breadth of Trump’s gains … House control is relevant to markets primarily in terms of fiscal questions—tax cuts, IRA rollback, ACA tax credits, Medicaid cuts, and deficits/rates.
Futures Trump Election Gain Morning Dollar House Scotiabank CAD Scott Barlow
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk pledges $1M daily to Trump votersThe race for campaign funding in the presidential bid between Vice President Kamala Harris and former President Donald Trump is intensifying rapidly...
Read more »
'Daily Show' Hits Trump With Incredibly Awkward Reminder About His Own Running MateDeputy Editor, Trends, HuffPost
Read more »
'Daily Show' Trashes Trump's Halloween 'Costume' With Wickedly 'Perfect' MetaphorBen Blanchet is a reporter based in New York City. His work has been featured in the New York Post, Insider and The Buffalo News' Sun newspapers. He was born and educated in Upstate New York.
Read more »
'Daily Show' Exposes Fox News' Double Standards After Trump's Wobbly MomentJosie is an assignment editor at HuffPost. She is an Australian journalist based in London, and covers a wide range of subjects, with a focus on trending news about politics, media and pop culture.
Read more »
Melania Trump Recalls Donald Trump Giving Her His Number While On Date With Another WomanRon Dicker is a general assignment reporter at HuffPost. He has covered sports, entertainment and many other beats in his journalism career, and has lived in New York City for more than 20 years.
Read more »
Review: ‘The Apprentice’ filmmakers theorize how Trump became TrumpTrump’s campaign calls movie ‘pure fiction’, filmmakers call their script ‘fact-based’
Read more »